Resource Curse
ï®
ï®
ï®
âEconomic growth since 1965 has varied inversely
with the share of natural capital in national wealth
across countriesâ¦.â
âNatural capital appears to crowd out human capital,
thereby slowing down the pace of economic
developmentâ
â..nations that believe that natural capital is their
most important asset may develop a false sense of
security and become negligent about the
accumulation of human capitalâ
- Gylfason, European Economic Rev., 45, 847859 (2001)